Draft law for foreigner-only casinos in Myanmar: report

A bill that would authorise in principle the setting up of foreigner-only casinos in the Southeast Asia state of Myanmar was submitted to the lower house of the country’s legislature on Tuesday, the Myanmar Times newspaper reported on Wednesday. The Gambling Bill 2018 is said to include amendments to an existing statute, the Gambling Act […]

Illegal trade more rampant than before, govt measures not effective

Government efforts to prevent illegal border trade have not been effective or sufficient and counterfeit goods are still being smuggled into the country. In fact, things are worse than before. “Illegal trade can’t be controlled. Illegal trade is worse than before even though measures were taken to reopen some of the border gates by the […]

FMI ventures into affordable housing

First Myanmar Investment (FMI) will be investing in the affordable housing sector in a bid to offset falling revenue from its construction businesses, FMI chair Serge Pun said during the firm’s 26th annual general meeting, held at the Yangon National Theatre, on July 29. He said the domestic property sector has no demand as those […]

Myanmar opens visa-on-arrival door

YANGON, 31 July 2018: Myanmar confirmed late last week it would ease visa procedures for three nationalities 1 October. Tourism officials quoted government sources saying tourists from Japan, South Korea and China would be granted a visa-on-arrival for up to 28 days. Details were sketchy with none of the official websites for the Hotels and […]

Central rubber market to open after legislation

A central rubber market will open in 2019 after the new Rubber Law has been enacted, U Khaing Myint, secretary at the Myanmar Rubber Planters and Producers Association (MRPPA), told The Myanmar Times. The drafting is expected to complete by late this year and, as the parliament is unlikely to have lengthy discussions, the bill […]

Property cycle at trough, turning point in sight, agents say

Property prices in Mandalay have dropped between 10 to 30 percent over the past five years, with steeper falls seen in less populated residential estates, local real estate agents told The Myanmar Times. After slipping from its peak in 2013 though, the property market could now be at a turning point. “Recent market conditions are […]

Myanmar National to seek foreign funds for fleet upgrade

Myanmar National Airlines (UB, Yangon) will seek foreign investors to finance the upgrade of the carrier’s international fleet and it has also approached the Myanma Port Authority in this regard, Director U Myint Aung has told The Myanmar Times. The Myanmarese flag carrier has been unprofitable since its corporatisation in 2013 but hopes to post […]

Unable to break protectionist curse, FMI bites the dust

FMI Air became the third domestic airline to throw in the towel on July 20, after more than five years in operation. Amid the winding up of joint venture proposals and local firms, this is the latest alarm that businesses are running out of patience with the government’s rigid protectionism in the aviation industry. “Operating […]

Japanese firm to build train station along Yangon Circular Railway

Japan’s Hello Communications has submitted a proposal to upgrade train stations along the Yangon Circular Railway to Myanma Railways, which operates the line, U Arkar Min Thu, general manager of the economic department under Myanma Railways, told The Myanmar Times on Tuesday. It is the first time Myanma Railways is receiving proposals from the private […]

Border zone with China to go ahead

An approval regarding the location of the proposed China-Myanmar border economic zone will be given “soon”, assistant secretary U Khin Maung Lwin from the Ministry of Commerce told The Myanmar Times. The discussions were carried out last week by the implementation body with priority made between Kachin and Shan states as they share the border […]